While for many entrepreneurs, coming back from such collapse would be a distant dream, Malik – a first generation entrepreneur – persisted. “A company is not only about the product it makes, but also the people who work there. I could not have shut down the livelihoods of so many people. I was responsible for them,” explains Malik.

Over the next 10 years, Malik with his family, close aides and the employees of Calcom, repaid all dues, consolidated the company, went back to bootstrapping and to the drawing board. What largely helped the company was its established brand equity among its vendors and customers.

“Positive reviews of our earlier customers and deep-rooted relationships with the companies helped us reinvent ourselves. By 2008, a new chapter had begun in Calcom’s journey. We embarked on our revival stage – Calcom 2.0,” says Abhishek Malik, Executive Director at Calcom adding that, “we entered the lighting industry through our strengths. Calcom was known for its electronics designing and development. This helped us weather the storm by focusing on niche products”.

While expanding its product portfolio in lighting, the company developed a few unique products for Osram, Germany and became their approved vendor. Over the years, many products and customers were added to its portfolio,

The past five years have accelerated the revival of the company. In 2020, Calcom entered the mass volume segment of LED bulbs. It is now the approved manufacturer for Panasonic and for a host of other leading brands such as Bajaj, Osram, Ledvance, Great White, etc. 

Their LED portfolio now includes a range of products from LED bulbs (all wattages), LED Battens (emergency battens and industrial battens), LED downlighters, panels, floodlights and streetlights to LED drivers etc.

With the second generation taking on the reins, fresh ideas have been injected into Calcom’s vision. “As a strategy, we are now focusing on the future. Energy-efficient electronics are in high demand and being adopted across the country. We want to be part of this growing segment and have already developed Smart Bulbs, Smart Plugs and other IoT based products. Along with that we are also diversifying our products portfolio by developing solutions for Brush Less Direct Current (BLDC) fans and drivers,” points Abhishek.

Although the pandemic has been a challenge, the company is resilient. While their P&L suffered due to global supply chain constraints, they used this opportunity to increase their capacity, upgraded their infrastructure and garnered five new customers. “In the last one year, we expanded our production capacity to three million bulbs per month. By the end of the year, we are all set to ramp it up to five million bulbs per month,” adds Malik

Now, Calcom is eyeing its 3.0 phase – ready to unleash its new incarnation into the lighting industry by building a long-term future on a deep-rooted legacy. The company closed FY21 with net sales of Rs57 crore and a PAT of Rs76 lakh which was considerably hit by the grinding halt in the economy due to the pandemic. However, the company’s market cap at BSE stands at Rs37 crore which, for some investors, makes it an attractive consideration. “One of the oldest companies that has not yielded to its own brand play and operates in a growing segment, deserves the attention that it is getting,” says an analyst. 

For Malik, it is indeed a long way from the grim reality the company faced in the early 2000s. “There is always light at the end of the tunnel for those who choose to persevere,” concludes Malik. By that logic, Calcom has the right switch in its palm